The tribunal held that once penalty is imposed for non-maintenance of books, a second penalty for non-audit cannot be levied. Levy of section 271B was held to be impermissible double ...

The due date for filing tax audit reports for fiscal 2021-22 has been extended by 7 days, the Income Tax Department announced on Friday. The last for filing tax audit reports has been extended to 7 ...

The Gujarat High Court has rejected a plea seeking further extension of the due date for the filing of income tax (I-T) returns by businesses and professionals covered under Section 44AB of the I-T ...

Think of a tax audit as a financial vibe check. Just like a company’s accounts are verified, income-tax authorities asks certain businesses and professionals to get their books audited by chartered ...

Please let me know whether tax audit u/s. 44AB read with section 44AD is applicable for A.Y. 2021-22, for claiming loss from futures & options (derivatives) business of ₹1 lakh on turnover of ₹5 lakh ...